Verification Control Specialist

Penn Mutual•Philadelphia, PA

2d•$60,000 - $75,000

About The Position

Verification Control Specialist is a critical role, helping to identify and protect from any financial risk. In this role, the successful candidate will be part of a team responsible for monitoring the operational risks at Penn Mutual and its affiliates. They will ensure that internal controls are being adhered to and protection protocols are being followed in accordance with guidelines put forth by Ethics and Compliance, Risk, and Quality assurance. The person in this role will possess a deep understanding of control measures, internal audit, administrative processes, and workflow systems. The Verification Control Specialist will participate in the discovery of fraud and trend identification.

Requirements

Risk management mindset; proactively anticipate issues and developing potential effective solutions
Demonstrates a strong ability to work within a team, values diverse perspectives, open communication and an environment of shared success
Proactive; self-starter, capable of managing multiple tasks efficiently and producing high-quality work independently
Strong communication skills, with the ability to articulate complex insurance and risk management concepts clearly to diverse audiences
Ability to complete a full analysis of correspondence, such as statements to identify any inconsistencies or impacts to the policy/contract
Ability to work cross-functionally as the business dictates
Execute with urgency and professionalism
Ability to navigate multiple systems and resources
Excellent analytical and organizational skills with attention to details
Proven ability to share knowledge and mentor others
Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement
Champion the adoption and implementation of innovative tools and technologies, with particular emphasis on AI capabilities such as Microsoft Copilot
H.S. Diploma or Equivalent Required
3-5 Years operational risk management background (including current state/future-state assessments, business process redesign, and target operating models)
Experience with projects involving the design or operation of elements of the risk management life cycle (including risk identification and profiling, risk assessment and measurement, risk metrics and monitoring or control testing) in the Insurance, or wealth and asset management industries.
Deep understanding of life insurance/annuity and security products in order to conduct in depth and extensive research on accounts
Experience working with or familiarity with data, analytics and risk technology solutions (e.g. LexisNexis)

Nice To Haves

Bachelor's Degree in Finance, Accounting, Business, Economics or a related field Preferred
LOMA Designation (ALMI, FLMI) Preferred
FINRA Series 6 Preferred
FINRA 26 Preferred

Responsibilities

Serve as a subject matter expert for transaction processing and documentation, handling the most critical requests for financial and non-financial transactions, using our workflow, imaging, and processing systems
Analyze inbound requests and determine if requests fall in accordance with financial and non-financial control guidelines
Review phone and/or form requests, applying judgement and expertise, and further decision based on established procedures and regulatory rules
Identify processes required to adapt to a changing external factors, including security, evolving customer expectations and the regulatory environment
Build case collateral and present status on Verification Controls to senior operations leaders, compliance and internal business partners, providing accurate and detailed case status and maintain all appropriate supporting documents
Handle the most complex and/or critical in-bound verification calls from our internal partners
Partners with Contact Center and Special Investigations Unit regarding fraudulent events, assessing current risks and controls and recommending mitigation strategies towards future control environment
Work directly with FPs and Distribution partners to gather detail and build case and transaction history
Ability to leverage critical thinking skills in order to recommend potential solutions
Learning agility and adoption of AI tools and solutions to enhance operations and productivity
Adhere to the company’s framework of internal controls
Identify, recommend and facilitate ongoing process and training improvements
Complies with all company and site policies and procedures
Remains current in profession and industry trends